IGF Investment Grade Fund I, LP Investigation | Goodman & Nekvasil P.A. May Recover Investor Losses
Goodman and Nekvasil is investigating potential claims involving FINRA registered brokerage firms who may have unsuitably recommended alternative investments such as IGF Investment Grade Fund I, LP.
According to the most recent SEC Form REG D/A:
IGF Investment Grade Fund I, LP failed to fully raise capital for the pooled investment fund at the time of the last REG D/A filing on 8/21/2018. The total offering amount of $60,000,000 had only raised $11,720,000 of investor capital. The fund was incorporated/organized, according to the REG D/A, in 2014, and still had $48,280,000 in capital that was not raised by 8/21/2018.
IGF Investment Grade Fund I notified investors in early 2019 that it was extending its offering period from December 31, 2018 to April 30, 2019.
Brokers and Broker-Dealers Sold IGF Investment Grade Fund I, LP and Received Large Commissions
According to the SEC Form REG D/A:
FINRA-registered brokers and broker-dealers, including but not limited to Axiom Capital Management, Landolt Securities, Moloney Securities, D.H. Hill Securities, Great Point Capital, Arete Wealth Management, Shopoff Securities, Allen C. Ewing & Co., Whitehall Parker Securities, Sutter Securities, McNally Financial Services Corp., Oaktree Securities, KCD Financial, Freedom Investors, Corp., Colorado Financial Service Corporation, Coastal Equities, Capital Financial Services, Purshe Kaplan Sterling Investment, and Ni Advisors were recipients of sales compensation.
Brokerage Firms Have An Obligation To Perform Reasonable Due Diligence
Brokerage firms who sold IGF Investment Grade Fund I, LP needed to perform reasonable due diligence into the fund to determine whether it is suitable for any of its investors. The firm needed to perform a customer-specific suitability analysis, such as reviewing the client’s investment objectives, risk tolerance, income, net worth, and investment portfolio, to determine whether the investment was suitable for each client. Due diligence must be performed before recommending the investment to any clients.
Unfortunately, many firms make broad recommendations to its clients to earn the large commissions paid by these private placements, usually ranging from 10% to 15% of the client’s investment.
Investors in IGF Investment Grade Fund I, LP May Recover Losses with Goodman & Nekvasil, P.A.
If you invested in IGF Investment Grade Fund I, LP, Goodman & Nekvasil, P.A. may be able to help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $250 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for almost 40 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
If you incurred investment losses in IGF Investment Grade Fund I, LP and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
Some of the information in this blog post was obtained on 3/17/22 directly from the SEC without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.